15 September 2020
N° 2020-230

In August 2020, consumer prices fell back by 0.1% over one month and increased by 0.2% year on yearConsumer price index - final results - August 2020

Informations rapides
No 230
Paru le : Paru le 15/09/2020
Prochaine parution le : 15/10/2020 at 08:45 - September 2020
Informations rapides  No 230 - September 2020
Warning

The health crisis due to the Covid-19 impacted the quality of the data: price collection on the field was adjourned from 16 March to 15 June; on the other hand, certain products were unavailable for sale. In August, as in July, only 1% of CPI basket is imputed due to the health crisis, after one quarter in June.

Additional information is available in “For further information”.

Monthly change: −0.1% in August; Year-on-year change: +0.2%

In August 2020, the Consumer Price Index (CPI) edged down by 0.1% over a month, after +0.4% in July 2020. Manufactured product prices dropped sharply (−1.2%, after a stability in July). Those of energy (+0.3% after +1.0%) and services (+0.3% after +0.9%) slowed down and those of tobacco were stable after a 0.1% increase in July. Finally, food prices rebounded slightly (+0.2% after a 0.9% drop in the previous month).

Seasonally adjusted, consumer prices fell back by 0.5%, after +0.7% in the previous month.

Year on year, consumer prices slowed down to 0.2%, after +0.8% in the previous month. This drop in inflation resulted from a downturn in manufactured products, linked to the postponed summer sales, and a slowdown in food prices. Contrariwise, energy prices fell less year on year than in July. Finally, the prices of services and tobacco rose, year on year, as the same rate as in the previous month.

Drop in core inflation year on year

Year on year, core inflation dropped, in August, to +0.5% after +1.4% in the previous month. The Harmonised Index of Consumer Prices (HICP) edged down by 0.1% over a month, after +0.4% in the previous month; year on year, it slowed down to +0.2%, after +0.9% in July.

Consumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes

Consumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes ()
ISJ CPI HICP
2014-01 0.2 0.6 0.8
2014-02 0.8 0.9 1.1
2014-03 0.5 0.6 0.8
2014-04 0.5 0.7 0.8
2014-05 0.3 0.7 0.8
2014-06 0.1 0.5 0.6
2014-07 0.1 0.5 0.6
2014-08 0.3 0.4 0.5
2014-09 0.1 0.3 0.4
2014-10 0.0 0.5 0.5
2014-11 -0.2 0.3 0.4
2014-12 -0.1 0.1 0.1
2015-01 0.1 -0.4 -0.4
2015-02 0.2 -0.3 -0.3
2015-03 0.2 -0.1 0.0
2015-04 0.4 0.1 0.1
2015-05 0.5 0.3 0.3
2015-06 0.5 0.3 0.3
2015-07 0.6 0.2 0.2
2015-08 0.5 0.0 0.1
2015-09 0.6 0.0 0.1
2015-10 0.8 0.1 0.2
2015-11 0.9 0.0 0.1
2015-12 1.0 0.2 0.3
2016-01 0.9 0.2 0.3
2016-02 0.7 -0.2 -0.1
2016-03 0.7 -0.1 -0.1
2016-04 0.6 -0.2 -0.1
2016-05 0.7 0.0 0.1
2016-06 0.7 0.2 0.3
2016-07 0.5 0.2 0.4
2016-08 0.4 0.2 0.4
2016-09 0.7 0.4 0.5
2016-10 0.5 0.4 0.5
2016-11 0.5 0.5 0.7
2016-12 0.4 0.6 0.8
2017-01 0.6 1.3 1.6
2017-02 0.2 1.2 1.4
2017-03 0.4 1.1 1.4
2017-04 0.5 1.2 1.4
2017-05 0.3 0.8 0.9
2017-06 0.4 0.7 0.8
2017-07 0.5 0.7 0.8
2017-08 0.5 0.9 1.0
2017-09 0.5 1.0 1.1
2017-10 0.5 1.1 1.2
2017-11 0.6 1.2 1.2
2017-12 0.6 1.2 1.2
2018-01 0.8 1.3 1.5
2018-02 0.8 1.2 1.3
2018-03 0.9 1.6 1.7
2018-04 0.8 1.6 1.8
2018-05 1.0 2.0 2.3
2018-06 0.8 2.0 2.3
2018-07 0.8 2.3 2.6
2018-08 0.9 2.3 2.6
2018-09 0.7 2.2 2.5
2018-10 0.7 2.2 2.5
2018-11 0.6 1.9 2.2
2018-12 0.6 1.6 1.9
2019-01 0.8 1.2 1.4
2019-02 0.8 1.3 1.6
2019-03 0.5 1.1 1.3
2019-04 0.7 1.3 1.5
2019-05 0.5 0.9 1.1
2019-06 0.9 1.2 1.4
2019-07 0.9 1.1 1.3
2019-08 0.7 1.0 1.3
2019-09 0.9 0.9 1.1
2019-10 1.0 0.8 0.9
2019-11 1.0 1.0 1.2
2019-12 1.1 1.5 1.6
2020-01 1.0 1.5 1.7
2020-02 1.3 1.4 1.6
2020-03 0.7 0.7 0.8
2020-04 0.3 0.3 0.4
2020-05 0.6 0.4 0.4
2020-06 0.3 0.2 0.2
2020-07 1.4 0.8 0.9
2020-08 0.5 0.2 0.2

Consumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes

  • Source: INSEE.

Downturn in manufactured product prices year on year

Year on year, manufactured product prices fell back by 0.2%, after +1.8% in the previous month. This downturn resulted from that of clothing and footwear prices (−1.7% year on year after +10.1%) and a lesser rise of “other manufactured products” prices (+0.4% after +1.1%), linked to the postponed summer sales. The prices of household furniture (+2.6% after +5.2%), of games and hobbies (+0.1% after +1.6%), of tableware and household utensils (+1.2% after +2.3%) and of major household appliances (+0.4% after +1.4%) slowed down. The prices of personal computers (−3.0% after +0.6%) and travel goods (−1.9% after +4.5%) fell back. Contrariwise, the prices of new motor cars (+0.1% after stability in July) increased. Finally, health product prices fell more than in the previous month (−2.0% year-on-year, after −1.9% in July).

Slowdown in food prices year on year

In August 2020, food prices slowed down for the fourth consecutive month: +0.9% year on year after +1.1% in July. The prices of fresh food produces were less dynamic (+1.5% year on year after +2.2%). Those of fresh vegetables fell more sharply (−3.7% year on year after −0.6%) and those of fresh fish fell back (−0.4% after +0.2%). Contrariwise, the prices of fresh fruits accelerated (+8.5% year on year after +7.7%). Excluding fresh produces, food prices also decelerated, to +0.8% year on year after +0.9% in the previous month. The prices of meat (+2.0% year on year after +2.5%) and bread (+0.1% year on year after +0.4%) slowed down. Contrariwise, the prices of alcoholic beverages accelerated (+1.2% year on year after +1.1%).

Detailed figures for various groups

2015:100
Detailed figures for various groups (2015:100)
Items Weight Index Percentage change
2020 August 2020 m-on-m change (2) y-on-y change (3)
a) All households
Overall 10000 105.09 -0.1 0.2
Overall SA(1) 10000 104.69 -0.5 0.2
Food 1610 108.08 0.2 0.9
Fresh food 230 124.32 0.7 1.5
Other food 1380 105.52 0.1 0.8
Tobacco 205 148.20 0.0 13.8
Manufactured products 2491 96.87 -1.2 -0.2
Clothing and footwear 380 93.04 -6.7 -1.7
Medical products 412 88.09 0.0 -2.0
Other manufactured products 1699 99.81 -0.3 0.4
Energy 808 106.98 0.3 -7.1
Petroleum products 439 103.77 -0.6 -12.7
Services 4886 106.73 0.3 0.9
Actual rentals and services for dwellings 752 101.76 0.0 0.2
Health services 604 102.47 -0.5 0.3
Transport 300 105.95 -3.3 -4.4
Communication 215 97.96 0.2 1.8
Other services 3015 109.71 0.9 1.6
Total except rents and tobacco 9185 104.57 -0.1 -0.1
Total except tobacco 9795 104.34 -0.1 -0.1
b) Urban working-class households or households of employees
All products excluding tobacco 9685 103.84 -0.2 0.0
c) Households that belong to the lowest equivalized disposable income quintile - France
All products excluding tobacco 9685 103.56 -0.3 -0.3
  • (1) seasonally adjusted
  • (2) : [m/(m-1)]
  • (3) : [m/(m-12)]
  • Geographical coverage: metropolitan France
  • Source : INSEE – Consumer Price Indices

Lesser drop in energy prices

Year on year, the drop in energy prices softened: −7.1% in August, after −7.4% in July. Electricity prices gathered pace (+3.9% after +3.6% in July) and petroleum product prices fell less than in the previous month (−12.7% year on year, after −12.8% in July), as did gas prices (−11.9% year on year, after −13.0% in July).

Same rise in service prices year on year as in July

Year on year, service prices increased by 0.9% in August, as in July 2020. The drop in transport prices was sharply accentuated (−4.4% year on year after −0.8%), in the wake of airfares (−12.8% after −4.5%). Health services prices decelerated (+0.3% year on year after +0.6%). The prices of “other services” accelerated (+1.6% year on year after +1.2%), due to a rebound in accommodation service prices (+1.5% after −2.6%). Communication services prices also rose (+1.8% year on year after +1.5%). Finally, the prices of housing-related services increased at the same pace as in the previous month (+0.2% year on year).

Detailed figures for Core inflation and HICP

2015:100
Detailed figures for Core inflation and HICP (2015:100)
Items Weight Index Percentage change
2020 August 2020 m-on-m change (1) y-on-y change (2)
Core inflation - All items 6069 103.31 -0.9 0.5
Food excluding fresh products. meat. milk and exotic products 754 103.75 0.0 0.5
Manufactured products 2032 99.33 -2.8 -0.2
Services including actual rentals and services for dwellings 3283 105.79 0.1 0.9
HICP - All items 10000 105.89 -0.1 0.2
  • (1) : [m/(m-1)]
  • (2) : [m/(m-12)]
  • Source: INSEE - Consumer Price Indices

Revisions

Compared with the provisional estimates published on August 28, 2020, the month-on-month and year-on-year changes in the CPI and in the HICP have been confirmed.

For further information

The CPI is calculated using scanner data, prices collected by INSEE collectors in physical outlets and a centralized collection (online collection, administrative data).

The price collection carried out by collectors on the field (about 40% of the CPI basket) was adjourned from 16 March to 15 June. Despite the introduction of new collection methods (price collection on the Internet, collection by phone, increased use of scanner data), the quality of the April, May and June indices (and to a lesser extent March) was affected. In addition, some few products were still unavailable for sale in August. These missing prices due to a lack of collection or an impossibility to purchase the products were imputed in compliance with Eurostat guidelines.

For further information: https://insee.fr/en/statistiques/4659409#documentation

Next publication of final results: 15 October 2020 at 8:45

The CPI is calculated using scanner data, prices collected by INSEE collectors in physical outlets and a centralized collection (online collection, administrative data).

The price collection carried out by collectors on the field (about 40% of the CPI basket) was adjourned from 16 March to 15 June. Despite the introduction of new collection methods (price collection on the Internet, collection by phone, increased use of scanner data), the quality of the April, May and June indices (and to a lesser extent March) was affected. In addition, some few products were still unavailable for sale in August. These missing prices due to a lack of collection or an impossibility to purchase the products were imputed in compliance with Eurostat guidelines.

For further information: https://insee.fr/en/statistiques/4659409#documentation

Next publication of final results: 15 October 2020 at 8:45


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